UK Renewable Energy Auction Awards No Offshore Wind Due to High Costs

No offshore wind capacity was awarded in the latest UK renewable energy auction due to high costs and risks.
Total renewable energy capacity awarded was only 3.7 GW, far below 11 GW awarded in 2022.
Offshore wind developers did not bid due to the price cap being too low to cover rising costs.
The lack of offshore wind awards is seen as detrimental for UK's 2050 net zero emissions goal.
Solar and onshore wind projects received most of the capacity awarded in the auction at 1.9 GW and 1.8 GW respectively.

reuters.com

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Posted 9/8/2023, 1:39:00 PM